PG&E (NYSE:PCG) Price Target Increased to $21.00 by Analysts at Barclays

PG&E (NYSE:PCG) had its price target increased by Barclays from $20.00 to $21.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Several other research analysts also recently issued reports on the stock. StockNews.com upgraded shares of PG&E from a sell rating to a hold rating in a research report on Thursday, February 1st. The Goldman Sachs Group assumed coverage on shares of PG&E in a research report on Wednesday, April 10th. They set a buy rating and a $21.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price target on shares of PG&E from $18.00 to $19.00 and gave the stock a neutral rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $19.11.

PG&E Stock Down 0.2 %

Shares of NYSE:PCG opened at $17.03 on Friday. PG&E has a 52 week low of $14.71 and a 52 week high of $18.32. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.78 and a current ratio of 0.83. The company’s fifty day moving average is $16.58 and its 200-day moving average is $16.89. The company has a market capitalization of $36.39 billion, a PE ratio of 15.21 and a beta of 1.32.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, April 25th. The utilities provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. PG&E had a net margin of 10.05% and a return on equity of 11.48%. The company had revenue of $5.86 billion for the quarter, compared to the consensus estimate of $6.60 billion. During the same quarter in the previous year, the company earned $0.29 EPS. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. Equities research analysts predict that PG&E will post 1.35 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 annualized dividend and a yield of 0.23%. PG&E’s dividend payout ratio is currently 3.57%.

Institutional Trading of PG&E

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. New York State Teachers Retirement System raised its holdings in PG&E by 10.2% during the 1st quarter. New York State Teachers Retirement System now owns 1,929,333 shares of the utilities provider’s stock worth $32,336,000 after purchasing an additional 178,233 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PG&E by 4.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 967,760 shares of the utilities provider’s stock valued at $16,220,000 after acquiring an additional 44,904 shares during the last quarter. WestHill Financial Advisors Inc. increased its stake in shares of PG&E by 16.5% in the 1st quarter. WestHill Financial Advisors Inc. now owns 25,258 shares of the utilities provider’s stock valued at $423,000 after acquiring an additional 3,570 shares during the last quarter. Simplicity Wealth LLC bought a new stake in shares of PG&E in the 1st quarter valued at about $738,000. Finally, Gemmer Asset Management LLC increased its stake in shares of PG&E by 4.4% in the 1st quarter. Gemmer Asset Management LLC now owns 27,434 shares of the utilities provider’s stock valued at $460,000 after acquiring an additional 1,153 shares during the last quarter. 78.56% of the stock is owned by institutional investors.

PG&E Company Profile

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.